Artisan Partners Limited Partnership Trims Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Artisan Partners Limited Partnership lessened its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 48.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,022 shares of the company’s stock after selling 208,947 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Astera Labs were worth $29,407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ALAB. Tidal Investments LLC grew its holdings in shares of Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after buying an additional 20,388 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Astera Labs by 1.8% in the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock worth $2,864,000 after acquiring an additional 390 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Astera Labs in the 3rd quarter valued at $530,000. Maverick Capital Ltd. lifted its stake in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after purchasing an additional 159,480 shares during the period. Finally, State Street Corp boosted its holdings in shares of Astera Labs by 173.1% during the third quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after purchasing an additional 442,698 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ALAB shares. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays upped their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Raymond James started coverage on shares of Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price on the stock. Morgan Stanley dropped their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus lifted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $112.77.

Astera Labs Trading Down 3.2 %

Shares of Astera Labs stock opened at $60.78 on Friday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The stock has a market cap of $9.86 billion and a price-to-earnings ratio of -35.13. The company has a fifty day moving average price of $85.00 and a 200 day moving average price of $89.84.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares of the company’s stock, valued at $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the transaction, the chief financial officer now owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock worth $50,242,702 in the last 90 days.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.